5 Things to Know About the Global Life High-Net-Worth Market

So, you'd like to reach more millionaires. So would John Hancock and its parent, Manulife Financial. Jean Wong, the CEO of Manulife Global HNW, briefed the company's investors on her unit's strategy for reaching and serving high-net-worth people, ultra-high-net-worth people and the "millionaires next door" last week during an investor day meeting in Hong Kong. Manulife set up the business by combining three existing wealth advisory units in 2023. Sales increased to $309 million in new annualized premium equivalents, from $239 million the year before. Even in the wealth market, "there are underserved segments," Wong said. Many think of the aging of the baby boomers as a retirement opportunity, but "this is also a legacy-planning, generational wealth-planning opportunity," she added. See the accompanying gallery for five insights that Wong shared about how Manulife sees the global wealth market. Credit: Adobe Stock